Carmignac Portfolio Commodities SICAV ISIN LU0164455502 Equity management
Recommended minimum investment horizon : 5 years
Global equity fund invested in energy, natural resources, and related industrial companies. By combining a fundamental top-down approach and a disciplined bottom-up analysis, the Fund manager aims to select quality companies with attractive long-term growth prospects and sustainable cash flow generation, across the entire commodity value chain. The Fund aims to outperform its reference indicator over 5 years..
Carmignac Global Strategy March 2018
- The technology sector was down
- Oil prices rose
- European peripheral yields eased
Exposure datamonthly weekly
The Fund posted a negative performance but beat its reference indicator. The energy sector came under pressure during the month as oil prices fell, weakened by a sharper-than-expected rise in US crude reserves. The general weakness of equity markets, which affected the technology sector in particular, also had an impact. The price of gold, which provides a safe haven, rose as investors grew increasingly concerned about the looming trade war. As a result, our gold stocks (Goldcorp) were up. Our oil exploration and production companies (Geopark) also proved resilient, making a positive contribution to performance. We benefitted from our investments in commodity-related industries (Siltronic) as well. However, our diversified metals and mining (Glencore) and steel (ArcelorMittal) companies were down, threatened by new trade barriers. Our derivative strategies also proved costly. Equity exposure remained relatively cautious.
Week from 13 to 20 Apr 2018
The information presented above is not contractually binding and does not constitute investment advice. Past performance is not a reliable indicator of future performance. Management fees are included in performances. Investors may lose some or all of their capital, as the capital in the UCI is not guaranteed. Access to the products and services presented herein may be restricted for some individuals or countries. Taxation depends on the situation of the individual. The risks, fees and recommended investment period for the UCI presented are detailed in the KIIDs (key investor information documents) and prospectuses available on this website. The KIID must be made available to the subscriber prior to purchase.